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MTA officials estimated that they pumped 75 million gallons of water out of their system due to Ida's record 3.15 inches of rain in less than an hour. Tropical Storm Ida's damage in New York exposed vulnerabilities to the city itself and the mass transit system that serves it. [Extracted from the article]

The Northeast's largest sale was the $2.2 billion offering of state personal income tax bonds on March 19 by the Dormitory Authority of the State of New York. Many states being in "hybrid" lock-downs freed issuers to complete broad, bridge and rail projects with fewer people on highways and transit during the pandemic. Northeast municipal issuers sold $59.9 billion of debt over the first six months of this year, up 4.8% from the same period of 2020 as states, cities and agencies adjusted to the COVID-19 environment and other variables. [Extracted from the article]

Its active single-family and multi-family bond programs have $1.15 billion of bonds outstanding as of June 30, including $844 million of homeownership opportunity bonds and $307 million of multi-family development bonds. Newport is financing improvements to the its water pollution control plant through the Rhode Island Infrastructure Bank. [Extracted from the article]

The New Jersey Educational Facilities Authority and Princeton University have appointed certified minority business enterprise Ramirez Asset Management as a subadvisor on the proceeds of the university's Series 2021B and 2021C bonds. Ramirez Asset Management, founded in 2002, is an affiliate of Ramirez & Co., one of the oldest Hispanic-owned full-service investment firms in the U.S. PHOTO (BLACK & WHITE): Princeton University students walk to class at historic Nassau Hall. [Extracted from the article]

Connecticut Treasurer Shawn Wooden grew up in Hartford's impoverished North End. House Speaker Matt Ritter, D-Hartford, said baby bonds benefit all of Connecticut, not just urban areas. "Connecticut baby bonds is an anti-generational poverty bill, a racial equity bill and an economic growth bill all in one", said Wooden, treasurer since January 2019 and a former Hartford City Council president. [Extracted from the article]

The Metropolitan Transportation Authority lacks the resources to fully fund its five-year, $54.8 billion capital program for 2020 to 2024, New York State Comptroller Thomas DiNapoli said. Even before the pandemic took hold in March 2020, the MTA was wrestling with budget imbalance, missed capital commitment goals, capital funding risks and escalating debt. [Extracted from the article]

PHOTO (BLACK & WHITE): This week's Connecticut special tax obligation bond deal will fund, among other things, more cars for the Metro-North Railroad. Transportation infrastructure, sustainability and affordable housing are all in play as Connecticut sets out for a busy bond-sale week. The taxable bonds, which received an A rating from S&P Global Ratings, are modeled after the World War II Series-E bonds, which more than 80 million Americans purchased. [Extracted from the article]

According to Lander, the MBTA intends to use subordinated sales tax bond anticipation notes to provide interim funding for remote-control train technology and fiber resiliency under the U.S. Department of Transportation's Railroad Rehabilitation and Interim Financing, or RRIF loans. The Massachusetts Bay Transportation Authority has received clearance from its oversight panel to expand its commercial paper program to $400 million from $250 million and to issue bond anticipation notes. [Extracted from the article]

Northeast municipal issuers sold $129.99 billion of debt last year, a 14.7% increase from 2019 as states, cities and agencies scrambled amid the COVID-19 disruption. New York City's Transitional Finance Authority, a public benefit corporation that finances a portion of the capital improvement plan, was fourth at $5.1 billion with 19 deals while the city's Municipal Water Finance Authority was ninth at $2.8 billion through eight deals. Issuers in New York State sold $57.1 billion of bonds, putting the Empire State behind only California and Texas. [Extracted from the article]

Even with a gubernatorial transition on hold for two months, Rhode Island is moving ahead with its March 2 referendum on seven bond issues. McKee's criticism of Raimondo's team for its sluggish rollout reflects a widening rift between the two. [Extracted from the article]

In September, RIHousing issued $142 million of social bonds, or homeownership opportunity bonds. In addition to its bond programs, RIHousing administers the Section 8 Housing Assistance Program, the home investments partnership program and the federal low-income housing tax credit, as well as other state and federal programs. [Extracted from the article]

Long-struggling Harrisburg has received enhanced taxing authority from Pennsylvania that city officials say will help it refinance debt and avoid another fiscal cliff. "Harrisburg, historically, and one of the reasons we ended up in the debt crisis that we did, had a lot of financial advisors that basically were paid based on the deals", Papenfuse said. [Extracted from the article]

The board also approved three bond resolutions, including the authorization of $2 billion to issue new-money bond anticipation notes and bonds to finance up to $2 billion of capital projects, and $500 million of new-money bonds and BANs to finance MTA Bridges & Tunnels capital projects. GRAPH: MTA's budget-gap challenges Source: MTA 2021 budget and four-year financial plan, presented to board Dec. 16 PHOTO (BLACK & WHITE). [Extracted from the article]

The hits to New York City's ratings continued late Tuesday night as Fitch Ratings downgraded the city's general obligation bonds and its issuer default rating to AA-minus from AA. Fitch assigned an AA-minus rating to the city's roughly $1.4 billion GO bonds, fiscal 2021 Series D and $114 million GO bonds, fiscal 2021, Series E. Both series are taxable. [Extracted from the article]

New York received its latest rating agency hit Tuesday when S&P Global Ratings revised its outlook to negative from stable on the city's general obligation bonds. S&P also affirmed its AA-minus underlying rating of the city's appropriation debt, excluding the Hudson Yards Infrastructure Corp.'s second indenture bonds, which it rates A-plus. [Extracted from the article]

The article reports on the decline in the sale volume of long-term bonds in all sectors, except local economic development sector, in the U.S. in 2011. It states that the decline is attributed to the cautionary market environment as well as the absence of the Build America Bond program. Meanwhile, it is noted that the sales of development bonds increase by 33.5% from 11 billion dollars to 14.6 billion dollars, with New York Liberty Development Corp. as a leading issuer.

The article reports on the 33 million dollars bond plan to be voted by Cumberland County, Maine residents for the renovation of the Cumberland County Civic Center in Portland. According to a financial statement issued by the county, the total estimated cost would reach 55.6 million dollars. The bonds would finance upgrades including facade improvements, additional restrooms and increased concourse space and a new loading dock.

The article offers updates on the economy of the U.S. It notes that long-term bond issuance has declined in the first half of 2011. The New Jersey Economic Development Authority had provided 1.1 billion dollars as a school construction bond. It notes that service industries have experienced a sharp decline on its financial performance.

"Investors who are underweight the sector or seeking tax-exempt New York paper should look to add thruway bonds to long- term holdings, particularly if the new deal brings a concession to recent spreads." Adjustments to the hit from COVID-19 are selling points for New York State Thru- way Authority officials as they plan for Thursday's competitive $547 million sale of Series O general revenue bonds. [Extracted from the article]

Raymond James is senior manager for the sale, which will feature $82 million of Series B tax-exempt and $17 million of Series A federally taxable bonds. [ABSTRACT FROM AUTHOR]

Unhedged and hedged variable-rate debt each account for 6% of the authority's $37.3 billion of bonds outstanding, according to Patrick McCoy. [ABSTRACT FROM AUTHOR]

The bonds will finance projects in the UConn 2000 Infrastructure Improvement Program, a $4.6 billion, 32-year initiative. [ABSTRACT FROM AUTHOR]

The competitive issuance will include roughly $35 million of taxable bonds. [ABSTRACT FROM AUTHOR]

Rhode Island Health and Educational Building Corp. is marketing the $127 million issuance as social bonds. [ABSTRACT FROM AUTHOR]

The forward-delivery bond, part of its $1 billion special tax obligation issuance, was a first for the state, Treasurer Shawn Wooden said. [ABSTRACT FROM AUTHOR]

Transportation infrastructure, sustainability and affordable housing are in play in three different bond deals. [ABSTRACT FROM AUTHOR]

Rhode Island Housing and Mortgage Corp. is coming off its inaugural social bond issuance. [ABSTRACT FROM AUTHOR]

Conduit issuer Trust for Cultural Resources for the City of New York will issue the $77 million green transaction. [ABSTRACT FROM AUTHOR]

The state's largest authority pulled off a $1.23 billion issuance that included its inaugural green bonds, and it did so during the height of the coronavirus pandemic. [ABSTRACT FROM AUTHOR]

Minority and women-owned business enterprises will now comprise 33% of city GO bond and Transitional Finance Authority book-runners and 40% for New York Water. [ABSTRACT FROM AUTHOR]

The $16 million, small-denomination offering, to finance projects with climate and environmental benefits. is modeled after World War II Series E bonds. [ABSTRACT FROM AUTHOR]

The Connecticut Housing Finance Authority will price the housing mortgage finance program bonds through negotiation. [ABSTRACT FROM AUTHOR]

Officials say the guidelines 'memorialize' the extensive debt management constraints under state and local laws, and the city's fiscal objectives. [ABSTRACT FROM AUTHOR]

The $42 million sale comes as water infrastructure is emerging as a priority priority for municipal issuers. [ABSTRACT FROM AUTHOR]

Unhedged and hedged variable-rate debt each account for 6% of the authority's $37.3 billion of bonds outstanding, according to Patrick McCoy. [ABSTRACT FROM AUTHOR]

The bonds will finance projects in the UConn 2000 Infrastructure Improvement Program, a $4.6 billion, 32-year initiative. [ABSTRACT FROM AUTHOR]

The competitive issuance will include roughly $35 million of taxable bonds. [ABSTRACT FROM AUTHOR]

Connecticut Treasurer Denise Nappier told lawmakers that Gov. Dannel Malloy's plan to push out payments would violate a bond covenant. [ABSTRACT FROM AUTHOR]

Rhode Island Housing and Mortgage Corp. is coming off its inaugural social bond issuance. [ABSTRACT FROM AUTHOR]

Rhode Island Health and Educational Building Corp. is marketing the $127 million issuance as social bonds. [ABSTRACT FROM AUTHOR]

The forward-delivery bond, part of its $1 billion special tax obligation issuance, was a first for the state, Treasurer Shawn Wooden said. [ABSTRACT FROM AUTHOR]

Transportation infrastructure, sustainability and affordable housing are in play in three different bond deals. [ABSTRACT FROM AUTHOR]

Rhode Island Housing and Mortgage Corp. is coming off its inaugural social bond issuance. [ABSTRACT FROM AUTHOR]

Rhode Island Housing and Mortgage Corp. is coming off its inaugural social bond issuance. [ABSTRACT FROM AUTHOR]

In calling for Pennsylvania's General Assembly to consider issuing pension bonds to backstop the commonwealth's two largest public systems, soon-to-depart state Treasurer Joe Torsella warned that such a move is no panacea. Torsella, whose term will expire next month after falling short in his re-election bid, said taking advantage of low interest rates and exploring the issuance would be a proactive step to improve funding at the Pennsylvania State Employees' Retirement System and the Pennsylvania Public School Employees' Retirement System. "On pension obligation bonds, it's ironic that Mr. Torsella makes his pension obligation bonds proposal as he is about to leave office", said Richard Dreyfuss, a Pennsylvania business consultant and actuary who has consulted and written extensively on public pension topics. [Extracted from the article]

The state's largest authority pulled off a $1.23 billion issuance that included its inaugural green bonds, and it did so during the height of the coronavirus pandemic. [ABSTRACT FROM AUTHOR]

Conduit issuer Trust for Cultural Resources for the City of New York will issue the $77 million green transaction. [ABSTRACT FROM AUTHOR]

Minority and women-owned business enterprises will now comprise 33% of city GO bond and Transitional Finance Authority book-runners and 40% for New York Water. [ABSTRACT FROM AUTHOR]

The $16 million, small-denomination offering, to finance projects with climate and environmental benefits. is modeled after World War II Series E bonds. [ABSTRACT FROM AUTHOR]